Boy,Jerry,your Post did'nt go very far! I live in Santa Marta,Colombia.I have a few Gold Coins and have been looking to sell them.Here,I have received nothing but absurdly low offers.I have been trying Medellin,and Bogota also,still no luck.Shipping,and or Mailing to States is out of the question,since no Carriers will ship "anything of value"" What have you learned of all this?
I deal in numismatic items. Maybe we can work something out. What items do you have? Are you able to provide scans? Could you potentially deliver them to people I know in Bogota or elsewhere at your expense?
stoneshirt There is so much illegal mining that no one will pay market pricing. Getting gold out of the region is everyone’s main concern. Jewelers that make gold jewelry all get cut rate gold from the illegal mining industry. You will be much better buying cheap gold in Colombia and taking it all back to the states your next trip.
The hyperinflation has nothing to do with the current world market price of gold or silver. It will remain at the current market price. The current value of the gold ( 1 oz for $1,251 US.d) should expressed at the current black market price of VE currency. which is currently running at $1 US.d for 3,500,000 bs. That would make the current price for gold in VE currency to be 4,378,500,000 bs an oz! One oz of gold in VE makes you a billionaire in VE currency! Because of poor economy in VE it may be difficult to find a buyer who can pay the current market price in VE currency,
So how do people transact in gold there? Can you use it as a means of exchange for goods an services? Can you use fraction of grams as a means for everyday purchase? It would be interesting to know how people use gold an silver in that country. I have read about bitcoin being used as a means of exchange there. as well as other such things. Any thoughts on this? Thanks Richard
The few people that have a time-frame that runs beyond dealing with primary concerns have access to US Dollars.
Due to the difficulty of obtaining sufficient quantities of Venezuela Bolivar banknotes, larger transactions tend to be conducted by direct bank transfers in Bolivares, Bitcoin, other blockchain currencies, US Dollar or other international currencies, Gold or other PM.
I doubt that 1 oz or larger quantities of Gold are changing hands in Bolivar paper currency.
Sounds like using grams or fractions of grams would be the best thing to transactions there. What do you mean by cheap gold in Columbia? Would you give a price say,for an ounce in Columbia,please. Could you also mention about silver and how it is being used there as a means to buy things? Thanks.
There is no such thing as 'cheap Gold' as such anywhere in Colombia or any other country.
Practically all serious traders in the metal would have instantaneous access to the latest market prices for AU or any other important precious metals.
You may be able to pick up alluvial and other informally mined gold at rough and ready mining sites in Colombia.
However, you would experience significant financial costs in getting there and not insignificant personal risk as a naive foreigner entering a lawless zone flush with cash muscling in on a business run by and for powerful insiders.